Strategic Management and Sustainability of AstraZeneca: Key Business Strategies, Resources and Capabilities, Environmental Sustainability, and Competitive Thinking

This article discusses the strategic management and sustainability of AstraZeneca, a leading international pharmaceutical company. It covers the key business strategies pursued by the company over the past five years, related frameworks, resources and capabilities, alignment of resources and capabilities to business strategies, implementation of environmental sustainability, and competitive thinking. The article also includes a VRIO analysis of AstraZeneca's resources and capabilities.

Project 1
Strategic Management
and Sustainability

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Key business strategies of AstraZeneca over the past five years...........................................1
Related frameworks to discuss why this strategy was pursued or changed...........................2
Resources and capabilities of AstraZeneca over the past five years......................................3
Capabilities of AstraZeneca over the past five years.............................................................3
How AstraZeneca has aligned its resources and capabilities to its business strategies..........4
How AstraZeneca can implement environmental sustainability............................................5
Apply science, theories, and ways of thinking to become more competitive........................6
CONCLUSION................................................................................................................................7
References:.......................................................................................................................................8

INTRODUCTION
Strategic management can be defined as the process of planning to implementation in
order to achieve goals and objectives of the company. Employers and employees majorly focuses
on the proactive actions rather than reactive actions so that risk taking and decision making can
be strategic in nature which provides better functioning of the organisation. Sustainability can be
defined as the policies and processes of strategic management which seeks competitive
advantages by maintaining the environmental sustainability. It basically involves the
environment protection actions taken by the organisation (Barbosa, Castañeda-Ayarza and
Ferreira, 2020). Organisation chosen here is AstraZeneca, which is one of the leading
international pharmaceutical company headquartered in United Kingdom and established in
1999. The following discussion is based on the key business strategies of AstraZeneca over the
past five years, related frameworks to discuss why this strategy was pursued or changed,
resources and capabilities of AstraZeneca over the past five years, how AstraZeneca has aligned
its resources and capabilities to its business strategies, how AstraZeneca can implement
environmental sustainability and application of science, theories, and ways of thinking to become
more competitive with proper findings and conclusion.
MAIN BODY
Key business strategies of AstraZeneca over the past five years
Reassessing product strategy is one of the key business strategy of AstraZeneca over
the past five years such that it mainly focuses on the product portfolio diversification so that the
customers has choices of more than one product as per their medicine suitability of different
diseases and treatments prescribed by the doctor. Investing in marketing and sales
infrastructure is an another key business strategy of AstraZeneca over the past five years such
that the company has the impressive sales and marketing business strategy for the large number
of sales and revenue generations with proper framework and tactics. Acquiring more talent and
experience from other industries is also one of the key business strategy of AstraZeneca over
the past five years such that the company not only analyse the pharmaceutical industry but also
studies the other industries in order to gain fresh talent and expertise in their organization
(Milanesi, Runfola and Guercini, 2020). Using internal rate of return to prioritise and
rationalise the research and development portfolio is also an another key business strategy of
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AstraZeneca over the past five years such that the company examines the internal working of the
firm for better R&D operations in order to set the priorities of functioning and portfolio.
Reviewing and revising governance standards is one of the key business strategy of
AstraZeneca over the past five years such that the company has the targets to work as per the
governance standards so that the functioning can be performed in a systematic manner with
proper reviews and revising of the norms and policies. Accelerating innovative science is an
another key business strategy of AstraZeneca over the past five years such that the company
focuses on the innovation part with the help of advanced technology and scientific
methodologies for better development of the products and portfolio associated with it. Deliver
growth and therapy area leadership is also one of the key business strategy of AstraZeneca
over the past five years such that the company has impressive leadership strategies which helps
the organization in growth and therapy. Making a great place to work is also an another key
business strategy of AstraZeneca over the past five years such that the company is more targeting
to develop and maintain the positive culture and background along with the conflicts and
diversity management in order to make a great place to work (Cavaleri and Shabana, 2018).
Related frameworks to discuss why this strategy was pursued or changed
Market/product development strategy is one of the related framework to discuss that
why the above strategies was pursued or changed such that the company has a strong strength in
innovation of the products and target market, it has used this framework to develop the strategies
of market and product development. Revenue strategy is an another related framework to
discuss that why the above strategies was pursued or changed such that it helps in increasing and
improving the number of revenue count in the company along with the profit margin by
minimising the cost and time duration as well. Target marketing strategy is also one of the
related framework to discuss that why the above strategies was pursued or changed such that the
company focuses on the segments which can give the higher number of sales such as hospitals
and patients (Demir and Min, 2019). Strategies are adopted for the same as well. Positioning
and differentiation strategy is also an another related framework to discuss that why the above
strategies was pursued or changed such that it is vital to position and differentiate the products
other from the competitors so that unique selling proposition can be created with the positioning
and differentiation strategy. Customer engagement strategy is one of the related framework to
discuss that why the above strategies was pursued or changed such that it depends on the target
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customers and accordingly the company has established the tactics of the customer engagement
with better communication flow and feedback as well. Multi-channel strategies is an another
related framework to discuss that why the above strategies was pursued or changed such that the
company has adopted more than one channels to communicate with the customers so that better
interaction of the brand and consumers can be done (Fuertes, Alfaro, Vargas and Sabattin, 2020).
Resources and capabilities of AstraZeneca over the past five years
Resources of AstraZeneca over the past five years
Financial resources is one of the resource of AstraZeneca over the past five years such
that it is the strongest resource for the company which has helped in capital resources and
expansion of the business with better investments on profitable areas. Human resources is an
another resource of AstraZeneca over the past five years such that the company contains
expertise in different domains such as in the technical department along with the marketing and
R&D domain and many more. Physical resources is also one of the resource of AstraZeneca
over the past five years such that the assets and machineries of the company gets updated on the
frequent basis so that any harm do not occur to the staff as well the customers also.
Capabilities of AstraZeneca over the past five years
Innovation is one of the capability of AstraZeneca over the past five years such that the
company has a very strategic and creative research and development departments who keeps on
trying to always innovate something new for the customers. Research and development
investment is an another capability of AstraZeneca over the past five years such that the
company has highly invested in their R&D department so that they can bring new ideas in the
pharmaceutical industry so that patients and hospitals can approach the company on priority
(Mailu, Ntale and Ngui, 2018). International relations is also one of the capability of
AstraZeneca over the past five years such that the company has good global relations with
various other companies and even the competitors as well and not only the pharmaceutical
industry but also the other industries for better global reach. Adoption of advanced technology is
also an another capability of AstraZeneca over the past five years such that the company always
seeks to have the new and upgraded technology in their organization to use for better
advancements in their products and services along with the innovation as well (Kumar,
Zavadskas, Mangla and Gupta, 2019).
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How AstraZeneca has aligned its resources and capabilities to its business strategies
Resources/
Capabilities
Value Rare Imitable Organised
Financial
resources
Yes No No Yes
Human resources Yes Yes No Yes
Physical
resources
No Yes Yes No
Innovation Yes Yes No Yes
Research and
development
investment
Yes Yes Yes Yes
International
relations
No No Yes Yes
Adoption of
advanced
technology
Yes No Yes No
VRIO analysis of AstraZeneca has examination of the resources of the company and is
classified on the basis of valuable resources and rare resources along with the imitable resources
and organized resources. Financial resources of AstraZeneca has good value and are in an
organised manner but they are not rare and not imitable as well (Hayler, Leahy and Simmons,
2018). Human resources of AstraZeneca has good value and are in an organised manner with
rare quality but they are not imitable. Physical resources of AstraZeneca are rare and imitable but
they have low value and less organised. Innovation of AstraZeneca has good value and are rare
along with the well organised nature but they are not imitable. Research and development
investment of AstraZeneca has good value and are in an organised manner along with the rare
and imitable nature. International relations of AstraZeneca has low value and less rareness but
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they are organised and imitable in nature. Adoption of advanced technology of AstraZeneca has
good value but are in imitable and they are not rare and less organised also (Priem, 2018).
How AstraZeneca can implement environmental sustainability
Access to healthcare
Innovating - to deliver life-changing medicine is one of the implementation plan for
environmental sustainability under access to healthcare domain of AstraZeneca such that the
company has the capability to create and innovate the treatments for patients which has a
positive impact on their life with less or no side effects. Partnering - to improve access and
affordability is an another implementation plan for environmental sustainability under access to
healthcare domain of AstraZeneca such that the company tends to develop such medicines which
are affordable and enhances the accessibility of the customers with the help of partnering with
other firms or retailers. Transforming - for the future of healthcare is also one of the
implementation plan for environmental sustainability under access to healthcare domain of
AstraZeneca such that the company is always up to the level of transformation for better
modifications in their medicines so that they can improve the future of healthcare.
Environmental protection
Product environmental stewardship is one of the implementation plan for environmental
sustainability under environmental protection of AstraZeneca such that the company focuses on
their products which can harm the environment and take care that not to use such elements again
or in the reduction of using the harmful elements. Waste management is an another
implementation plan for environmental sustainability under environmental protection of
AstraZeneca such that the company has planned that how they can manage and reduce the
wastages arising from their organization in order to reduce the pollution. Greenhouse gas
reduction is also one of the implementation plan for environmental sustainability under
environmental protection of AstraZeneca such that the company ensures that the process using
for the development of the medicines should release less amount of greenhouse gas in order to
maintain the environmental sustainability and protection.
Ethics and transparency
Inclusion and diversity is one of the implementation plan for environmental
sustainability under ethics and transparency of AstraZeneca such that the company has the policy
of inclusion and diversity so that they can maintain the organizational ethics and diversified
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culture. Talent and workforce evolution is an another implementation plan for environmental
sustainability under ethics and transparency of AstraZeneca such that the company always
targets the development of their employees and talents so that they can contribute in the growth
of the company (Schilling and Shankar, 2019). Workforce well-being and safety is also one of
the implementation plan for environmental sustainability under ethics and transparency of
AstraZeneca such that it is on the priority that the staff must be safe while working in the firm
and it is the responsibility of the organization to take care of their well being. Responsible supply
chain is also an another implementation plan for environmental sustainability under ethics and
transparency of AstraZeneca such that the supply chain management of the company is
accountable by the expertise of medicines and services provided to the patients. Human rights is
one of the implementation plan for environmental sustainability under ethics and transparency of
AstraZeneca such that the company has maintained the human rights along with the employment
laws so that the ethics and transparency can be maintained which is considered a good
sustainability in human resources (Bogers, Chesbrough, Heaton and Teece, 2019).
Apply science, theories, and ways of thinking to become more competitive
Change management is one of the way of thinking to become more competitive such
that the company has applied the change management methodology in order to gain the business
strategies and to maintain the sustainability for better evolution of the organization. Online
influencing is an another way of thinking to become more competitive such that the company
has started operating via online and technical devices for wider reach to the customers and
satisfy them along with the loyalty and long term relationship with them. Big data management
is also one of the way of thinking to become more competitive such that the company is
diversified large via different branches across the world and therefore, big data management is
important for competitive advantage for better analysis and future predictions (Sharabati, 2018).
Investing in customer relationship is also an another way of thinking to become more
competitive such that the company spend more in to maintain the stable relationship with the
clients. Culture and diversity management is one of the way of thinking to become more
competitive such that it helps in the conflict management and resolution of it in a strategic
manner because employee are the greatest assets of the company and hence they are required to
take care by adopting and accepting the assorted culture and diversity by managing the same.
Engagement with stakeholders is an another way of thinking to become more competitive such
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that they help to grow the business with innovative ideas and implementation of it. Track
progress, communicate actions and meet expectations is also one of the way of thinking to
become more competitive such that the progression must be tracked so that the communication
flow can be smooth in order to meet the expectations without any complications (Pal, 2018).
CONCLUSION
It is concluded that strategic management and sustainability is an important concept to
learn and study so that its application can be applied in the real world organizations. This is
because they plays an important role in the business management and the succession of the
business with proper expansion, growth and development of the organization. Therefore, it is
important to analyse the key business strategies of AstraZeneca over the past five years. It is
necessary to determine the related frameworks to discuss why this strategy was pursued or
changed. It is essential to examine the resources and capabilities of AstraZeneca over the past
five years. It is significant to gain the knowledge about how AstraZeneca has aligned its
resources and capabilities to its business strategies. It is crucial to assess that how AstraZeneca
can implement environmental sustainability. It is imperative and vital to investigate about the
application of science, theories, and ways of thinking to become more competitive. Hence, this
report covers all such areas in order to better understand the conception of strategic management
and sustainability.
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References:
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